HoABL and Mittal Builders Join Forces for RS 3,000 Crore Township Project

In a major development for Mumbai’s suburban real estate market, The House of Abhinandan Lodha (HoABL) and Mittal Builders have signed a joint development agreement (JDA) to co-develop an expansive three million sq ft integrated township in Naigaon, located on the outskirts of Mumbai. The project, estimated to deliver a Gross Development Value (GDV) of Rs 3,000 crore, is set to launch in Q2 FY26 with an initial investment of Rs 2,000 crore.

 

The township will feature 4,600 residential apartments along with high-street retail zones and will be executed in phases over the next five years. The project is part of a broader strategic partnership between the two firms, announced earlier this year.

 

According to the joint statement, Mittal Builders holds a 70-acre land parcel in Naigaon, with a total development potential of 6.5 million sq ft and a projected GDV of over Rs 8,000 crore. The current phase represents the largest development undertaken in this corridor by both entities.

 

Trustcap, a Mumbai-based investment bank, acted as the sole financial advisor for this transaction.

 

Rakesh Pai, Chief Operating Officer at HoABL, noted, “This partnership underscores our shared vision to develop thoughtfully designed townships that meet the aspirations of today’s homebuyers. Our goal is to deliver premium, high-quality homes with timely execution and long-term value”.

 

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The project will enjoy excellent connectivity, situated just 2 km from Naigaon railway station on the suburban western line. Future infrastructure upgrades including Metro Line 13 extension, the proposed Vasai-Virar-Panvel rail corridor, and feeder access to the Mumbai-Delhi Expressway are expected to significantly boost the location’s real estate potential.

 

Akshay Mittal, promoter of Mittal Builders, emphasized their deep-rooted presence in Naigaon. “We’ve already delivered 2 million sq ft of residential space, built a community of 2,000 families, and established a school for over 2,500 students. This next phase with HoABL marks the beginning of a long-term partnership focused on creating high-quality, large-scale developments in this thriving region”.